Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
OPERATING REVENUES
Oil and gas sales	$ 2,297,511	$ 3,412,680	$ 4,358,571	$ 6,875,889
Natural gas liquid sales	574,002	207,947	989,648	1,129,775
Gas transportation, gathering, and processing	23,702	41,173	43,165	83,889
Other income	862	4,137	995	5,914
Total operating revenues	2,896,077	3,665,937	5,392,379	8,095,467
OPERATING COSTS AND EXPENSES
Production costs	2,772,387	4,140,778	5,314,578	7,177,964
Depreciation, depletion, amortization and accretion	3,263,283	2,588,627	10,526,104	4,391,457
General and administrative	1,001,383	1,844,624	1,840,263	3,025,454
Gain on sale of assets	(130,000)		(130,000)
Total operating costs and expenses	6,907,053	8,574,029	17,550,945	14,594,875
LOSS FROM OPERATIONS	(4,010,976)	(4,908,092)	(12,158,566)	(6,499,408)
OTHER (EXPENSES) INCOME
Interest income	546	540	1,107	1,081
Interest expense	(7,129,564)	(3,047,743)	(14,022,172)	(6,163,480)
(Losses) gains on commodity derivatives	(2,580,698)	(526,920)	(1,397,072)	6,848,261
Total other (expenses) income	(9,709,716)	(3,574,123)	(15,418,137)	685,862
NET LOSS BEFORE INCOME TAXES	(13,720,692)	(8,482,215)	(27,576,703)	(5,813,546)
INCOME TAX	0	0	0	0
NET LOSS	$ (13,720,692)	$ (8,482,215)	$ (27,576,703)	$ (5,813,546)
NET LOSS PER SHARE - BASIC AND DILUTED	$ (0.89)	$ (0.56)	$ (1.79)	$ (0.39)
WEIGHTED AVERAGE SHARES - BASIC AND DILUTED	15,470,720	15,118,455	15,393,859	15,004,377